US

PICASSO’S Blue Period canvas Femme aux bras croisés set a world record for the artist at auction on November 8.

$45m fine for Sotheby’s but five years to pay: Diana ‘Dede’ Brooks, former president and chief executive of Sotheby’s, has pleaded guilty in a Manhattan Federal Court to price-fixing with Christie’s between 1993 and 1999.

US: TANGIBLE Asset Galleries, the Californian art and antiques auctioneers and dealers, have pulled out of the deal to acquire Gavelnet.com, the Internet and interactive TV auction company.

USA: SKINNER’S auctioneers of Boston have set up a new contemporary art gallery which could do for American artists what Maurice Saatchi has done for Damien Hirst and others.

USA: The highlight of a $1.36m sale of Americana held by Massachusetts auctioneers Skinner in their Bolton rooms on August 12 was this 2ft 4in (71cm) high, 21in (53cm) diameter, Philadelphia cherry-wood bird cage tea table dated c.1760-80, which left its $10,000-15,000 estimate behind as two dealers in the room contested it to no less than $370,000 (£253,425) plus premium.

Gavelnet.com, the San Francisco-based Internet auction specialists, have merged with Tangible Asset Galleries, Inc a California-based retailer, wholesaler and auctioneer of fine art who last year declared sales of over $20 million.

SOTHEBY’S Holdings have announced their nominees for the firm’s board of directors, with shareholders due to vote on them at the delayed Annual Meeting in New York on August 3.

UK: GAVELNET.COM, the San Francisco-based Internet auction specialists have denied claims that they are winding up their UK operation.

US: ONE OF the rarest chairs in the world has met with an unexpected fate at the Minneapolis Institute of Arts. A 17th century Chinese folding armchair, which had accomodated the highest dignitaries of the Imperial court, was unable to bear the weight of a weary museum visitor who had disregarded the ‘do not touch’ sign and sat down to rest his feet.

US: A concerted push into the market by Phillips meant that there were three major players on the Impressionst and Modern auction scene in New York last week.

US & FRANCE: TWO works by Philippe de Champaigne have been withdrawn from the sale of the Karl Lagerfeld collection, in New York on May 23, and offered to the French State.

US: NEW York financier Saul Steinberg is to sell his collection of 61 Old Master paintings through the New York art dealer Richard Feigen. With obvious carrots dangled by the leading auction houses for such an important collection, conservatively valued at some $52m, this is a major fillip for the fine art trade.

UK & US: PHILLIPS’ traditional reputation as the permanent poor relation of Sotheby’s and Christie’s at the top end of the international art market could be turned on its head by a clutch of high value consignments soon to be offered in London and New York.

US: FLORIDA-based organiser David Lester is negotiating for a new fair in New York City, possibly to be launched as early as October this year.

US: THE sudden resignations of Sotheby's chief executive Diana 'Dede' Brooks and chairman Alfred Taubman have come in the wake of the investigation into alleged commission fixing which has seen the company's stock plummet by 60 per cent since the start of this year.

US: SETTING a new world auction record for a decoy, this sleeping Canada Goose c.1917, by renowned carver Elmer Crowell of East Harwich, Massachusetts, was estimated at $400,000-500,000 by Sotheby's, New York in a joint sale with Guyette and Schmidt of Maine, but sold to Boston dealer Stephen B. O'Brien Jr in the room on behalf of a client at $620,000 (£375,760) plus premium on January 23.

UK: THE exceptional levels of demand recently seen for American pictures impacted on the London salerooms on the evening of December 14 when Bonhams achieved a record £1.4m for Richmond Hill in the Summer of 1862 by the Hudson River School painter Jasper Francis Cropsey (1823-1900).

US: AT Christie’s East in New York on November 27, in a sale which reinforced 20th century design as a major market mover, this moulded plywood sculpture by Ray and Charles Eames, dated 1943 and 3ft 11/2in (95cm) high, established a world record price of $330,000 (£206,250) for the designers, selling to a specialist Eames collector.

US: SOTHEBY’S have opened their new-look, custom-built Manhattan headquarters at 1334 York Avenue, New York, adding six new floors above the four which previously housed the auction house.

US: PROFITS from the catalogue for Christie’s New York’s October 27 and 28 Marilyn Monroe auction may bring as much as the sale itself.